Head to head
Capital on Tap vs iwoca: Which UK Business Finance Provider in 2026?
Side by side: what each lender offers UK limited companies and LLPs, and what each one publishes.
Free · 2 mins
Start here · What do you need?
What Capital on Tap offers: business credit card with revolving credit line. Ticket range: up to £250k credit limit (its own figure). Rate: from 13.86% APR (variable); no interest on card spend if the balance is cleared in full. What iwoca offers: flexi-loan / line of credit. Ticket range: £1k to £1m (its own figure). Rate: from 1.5% per 30 days. Capital on Tap suits cash-flow cards on monthly cycle. iwoca suits working capital and cash-flow-gap files needing flexible draw-down. The table below compares ticket range, typical rate, decision time and soft search at quote.
Source: FundBiz methodology. Editorial by Best Business Loans Ltd (16833937).
Capital on Tap, at a glance
- Product
- Business credit card with revolving credit line
- FundBiz editorial view
- Best for cash-flow cards on monthly cycle
iwoca, at a glance
- Product
- Flexi-loan / line of credit
- FundBiz editorial view
- Best for working capital and cash-flow-gap files needing flexible draw-down
Side-by-side
Full profiles: Capital on Tap · iwoca
| Compared on | Capital on Tap | iwoca |
|---|---|---|
| Product type | Business credit card with revolving credit line | Flexi-loan / line of credit |
| Ticket range | Up to £250k credit limit (its own figure) | £1k to £1m (its own figure) |
| Typical rate | From 13.86% APR (variable); no interest on card spend if the balance is cleared in full | From 1.5% per 30 days |
| Decision time | Decision in 2 minutes (Capital on Tap's own figure) | Decision within 24 hours in almost all cases (its own figure) |
| Lender's own soft search at quote | Yes, says the lender | Yes, says the lender |
Sources: Capital on Tap's own site · iwoca's own site. Figures change; confirm with the lender before you rely on one.
FundBiz enquiries are for limited companies, LLPs and partnerships with four or more partners. Some lenders on this page also accept other business types; we do not arrange those and do not recommend a lender on that basis.
When Capital on Tap may fit
- Applying won't affect your credit score and the decision comes back in minutes, per Capital on Tap's own site (checked 23 September 2026).
- No interest if statement balance is cleared in full each month.
- Unlimited 1% cashback on card spend, redeemable for cash, Avios, gift cards or against the balance (Capital on Tap's published terms).
Best for
Cash-flow cards on monthly cycle, Borrowers wanting a quick decision (it says 2 minutes).
Watch outs
- Cash-advance APR materially higher than card-spend APR; using it as cash erodes the maths.
- Personal guarantee required from a director.
- Credit limit can be reset down without warning if account behaviour changes.
Lender figures and criteria: Capital on Tap's own site; full notes in our Capital on Tap review.
When iwoca may fit
- iwoca says almost all applicants get a decision within 24 hours.
- Flexi-loan structure means the applicant only pays interest on what they draw, useful for cash-flow-gap files.
- iwoca says it only runs soft credit checks when you apply, so applying does not affect your credit score.
- Lends to businesses trading under a year, up to £10,000, per iwoca.
Best for
Working capital and cash-flow-gap files needing flexible draw-down, Newer Ltd companies trading 12 to 24 months, Borrowers who want a lender soft search and a decision within 24 hours.
Watch outs
- A per-30-day rate looks low but adds up (iwoca's own example shows 3.33% per 30 days as 49% APR representative), so compare the APR before borrowing.
- iwoca says you can borrow up to 20% of turnover, so a larger loan may need a different lender.
- Personal guarantee required.
Lender figures and criteria: iwoca's own site; full notes in our iwoca review.
FAQ
Capital on Tap or iwoca: which is the better UK business finance provider in 2026?
Neither is better for every business. The 'When Capital on Tap may fit' and 'When iwoca may fit' sections above say who each one suits, and the side-by-side table shows what each lender publishes. Check each lender's own criteria before you apply.
Which is weakest for what?
Capital on Tap is a poor fit for long-tenor capex finance. iwoca is a poor fit for fixed-term project finance, consider Funding Circle or Allica. If either of those describes your business, look at the side-by-side table for the alternative, or read our other lender reviews.
Can FundBiz help with Capital on Tap or iwoca?
FundBiz is not a lender and is independent of both. This comparison and our lender reviews are editorial research to help you decide which to approach. FundBiz doesn't pass your enquiry to either lender. If you send an enquiry through FundBiz, we pass it to one of the finance partners we work with, who will contact you about your options.
Who can send an enquiry through FundBiz?
The FundBiz enquiry form is for limited companies, LLPs and partnerships with four or more partners. Eligibility for Capital on Tap and iwoca is set by each lender, and trading history requirements vary, so check each lender's own criteria.
How we ranked these lenders
Every lender is scored on the same four FundBiz criteria: pricing transparency, eligibility clarity, decision speed and treatment of declined applicants. Scores are our own desk-research assessment built from the FCA Register, Companies House filings and each lender's published product sheets, not customer reviews and not hands-on product testing. Each comparison shows the date it was last updated. Inclusion is never paid for, and FundBiz receives no commission from lenders. FundBiz is paid a fixed fee by one of the finance partners we work with for each enquiry we pass on. See our full methodology.
Send an enquiry
Tell us what you need in 2 minutes. FundBiz is not a lender and does not run a credit check. It's free and there's no obligation. For limited companies, LLPs and partnerships with four or more partners.
Send an enquiry →FundBiz is owned and operated by Best Business Loans Ltd, directed by Oliver Mackman. Last updated: . Editorial by Best Business Loans Ltd (16833937).